New York, NY, Sept. 20, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Yacht Market By Type (Super Yacht, Flybridge Yacht, Sport Yacht, Long Range Yacht), By Length (Up to 20 Meters,20-50 Meters, Above 50 Meters), By Propulsion (Motor Yacht, Sailing Yacht), By Region, And Segment Forecasts, 2021–2026”.
“According to the latest research study, the demand of global Yacht Market size & share expected to reach to USD 11.05 Billion by 2026 from USD 8.15 Billion in 2020, at a compound annual growth rate (CAGR) of 5.20% during the forecast period 2021 to 2026”
Global Yacht Market: Overview
Yacht charters are sailboats that are either motorized or sail-powered and are primarily used for recreational purposes. Yachts can be privately owned (by an individual or a company) or chartered. Yachts with massive opulent and fully crewed motorboats or sailing yachts with lengths ranging from 75 feet to more than 250 feet are equipped with sumptuous amenities. Many yacht manufacturers now offer private charters of their vessels, offering a luxurious experience with high standards and comfort. OEMs are focusing their attention on developing high-speed boats to address the increasing demand from customers for marine tourism and water sports.
During the previous couple of years, the trend of renewing marine fleets has increased by roughly 7% to 8%. Due to numerous considerations such as the accessibility of its yards to many owners and the huge stretch of coastline with significant growth in the tourism sector, Europe and the Mediterranean areas account for a significant share of the yacht industry. The market's growth is expected to be bolstered by the growing popularity of adventure travel and cruise vacations. According to BRL experts, more than 30 adventure cruise ships have been ordered, with the majority of them signing contracts.
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Industry Major Market Players
- Alexander Marine International
- Azimut - Benetti S.P.A.
- Brunswick Corporation
- Viking Yacht Company
- Christensen Shipyards LLC
- SanlorenzoS.p.A
- Feadship Holland B.V.
- FincantieriS.p.A. (CDP IndustriaS.p.A.)
- Damen Shipyards Group N.V.
- Heesen Yachts Sales B.V
- Horizon Yacht USA (Metal Shark Boats)
- Palumbo Group S.P.A
- Princess Yachts Limited (LVMH Group)
- Sunseeker International (Wanda Group)
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Key questions answered in this report:
- What is the projected market size & growth rate of the Yacht Market?
- What are the key driving factors for the growth of the Yacht Market?
- What are the top companies operative in Yacht Market?
- What segments are covered in Yacht Market?
- How can I get free sample report/company profiles of Yacht Market?
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Market Dynamics
To estimate the total attractiveness of the yacht market, current and prospective yacht industry trends are outlined. During the forecast timeframe, the top impacting factors emphasized opportunities. The rise of the yacht market is fueled by factors such as the increase in high-net-worth individuals and yacht tourism. In addition, a yacht charter is one of the primary elements driving the global yacht market forward. An increase in the number of private islands on cruise itineraries, rising disposable income around the world, the utilization of alternative energy sources, and an increase in the number of high nets worth individuals all are contributing to the growth of the yacht charter sector. In addition, when disposable income rises and lifestyles are becoming more chaotic, the demand for leisure activities rises. The ease with which a boat may be chartered has contributed to the popularity of yacht vacations among the young, who want to celebrate special occasions in style, which is expected to drive market growth.
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Global Yacht Market: Report Scope
| Report Attribute | Details |
| Market Size 2020 Value | USD 8.15 Billion |
| Market Forecast for 2026 | USD 11.05 Billion |
| Expected CAGR Growth | CAGR 5.20% from 2021-2026 |
| Base Year | 2020 |
| Forecast Year | 2021-2026 |
| Top Market Players | AzimutBenetti, Bagliettos. p.a, Bavaria Yachtbau GmbH, BENETEAU, Brunswick Corporation, Cheoy Lee Shipyards Limited, and Others |
| Segments Covered | Type, Length, Propulsion, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Pricing Options | Request customized purchase options to meet your research needs. Explore purchase options |
Global Yacht Market: Segmentation
The yacht market is segmented based on type, length, and propulsion. As per type yacht market is segmented into (superyacht, flybridge yacht, sport yacht, long-range yacht, others), by length (up to 20 meters,20-50 meters, above 50 meters), and by propulsion (motor yacht. sailing yacht).In 2020, the superyacht segment dominated the market, accounting for more than 29% of overall revenue. The segment's high popularity among end-users is expected to boost its growth. The sport yacht is projected to emerge as the fastest-growing segment in the market. The growing demands for a sports yacht in nations like China and France are accountable for the segment's growth.
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Global Yacht Market: Regional Analysis
Europe is projected to dominate global yacht market growth
Throughout the projected period, Europe is expected to be the fastest-growing regional market. The rise in disposable income and a greater standard of living are the two major factors affecting the shift in the region's population's demand for yacht travel. The significant growth can be attributed to surging yacht purchases in the region. As a result of the region's attractiveness and recent favorable policies passenger traffic in coastal and marine tourism is expected to increase in the next years. Fishing, kayaking, white-water rafting, sail training, and one-day scuba diving as well as boating trips, free diving, and snorkeling, are some of the examples of investments in coastal areas and leisure activities.
Browse the full report “Yacht Market By Type (Super Yacht, Flybridge Yacht, Sport Yacht, Long Range Yacht), By Length (Up to 20 Meters,20-50 Meters, Above 50 Meters), By Propulsion (Motor Yacht, Sailing Yacht), By Region, And Segment Forecasts, 2021–2026” at https://www.fnfresearch.com/yacht-market
The global yacht market is segmented as follows:
By Type:
- Super Yacht
- Flybridge Yacht
- Sport Yacht
- Long Range Yacht
- Others
By Length:
- Up to 20 Meters
- 20-50 Meters
- Above 50 Meters
By Propulsion:
- Motor Yacht
- Sailing Yacht
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